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joeys of dollars business insider is still struggling i'm not sure what bitcoin is yet meanwhile bitcoin two point zero is no ready to go ready to launch and set another stage another chapter in this incredible encroaching technology tsunami that is just blasting away all these high priced middlemen scoundrels banks to say goodbye hello to a good cause all of one. so then he goes into look at some of the applications already being applied using bitcoin the technology on the block chain colored coins for example the main idea behind the colored coins project is that you'll be able to apply secondary values to certain big coins on the bitcoin block chain those secondary values can be used to create completely new digital currencies that are backed by real world assets for example let's say you will in some gold at your house you could hypothetically take five suppose she's and say that each one of those to toe shoes is equal to one gram of the gold that you hold in your home you could then exchange those five suppose she is backed by one gram of gold each on the decentralised exchange in t
joeys of dollars business insider is still struggling i'm not sure what bitcoin is yet meanwhile bitcoin two point zero is no ready to go ready to launch and set another stage another chapter in this incredible encroaching technology tsunami that is just blasting away all these high priced middlemen scoundrels banks to say goodbye hello to a good cause all of one. so then he goes into look at some of the applications already being applied using bitcoin the technology on the block chain colored...
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right so in other words you represent what some are calling bitcoin two point zero first we had bitcoin introduced to the world a few years ago it is now become a mechanism for payment on the internet with overstock dot com for example accepting it as a payment method and as a currency now you're is taking it to the next level which is to say that individual bitcoins themselves can be used to launch what are effectively derivatives correct right derivatives in the purest sense to them about derivative is simply an instrument that derives its value for something else not necessarily. you know some frankenstein monster but it can be if conflicts of interest causes two parties to. spread away from each other in terms of actual interest what i'm doing with big quine initially is i'm creating mechanisms to smooth out the volatility and allow people to take positions on it for it's over start. the c.e.o. made a very interesting and apparently very good decision to accept because he got one hundred thirty thousand dollars worth of orders over a hundred orders almost all new orders new customer
right so in other words you represent what some are calling bitcoin two point zero first we had bitcoin introduced to the world a few years ago it is now become a mechanism for payment on the internet with overstock dot com for example accepting it as a payment method and as a currency now you're is taking it to the next level which is to say that individual bitcoins themselves can be used to launch what are effectively derivatives correct right derivatives in the purest sense to them about...
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about bitcoin paul krugman recently came out and said bitcoin is evil all so if he hates it we know that's probably a good thing. and they start i saw the financial times said that going to be under fifty dollars sometime in the near future which obviously is in my view it's not going to happen yeah you're absolutely right i was a little bit skeptical about bitcoin in the beginning but i'm actually a believer in it now and i do own some bitcoin and the reason why on it is i think it's the technological investment and it accomplishes what we tried to do to a certain extent with gold the difference of course is that gold is something that governments want to control and regulate whereas bitcoin is beyond government regulation and that's really one of its beauties and i think that's one of the reasons why an authoritarian like kruger you know lover of government hates bitcoin so the fact that you can't regulate it is one of its attributes except it is regulated it's not regulated by government it's regulated by the market it's regulated by everybody who studied it in analyzed and sees that ye
about bitcoin paul krugman recently came out and said bitcoin is evil all so if he hates it we know that's probably a good thing. and they start i saw the financial times said that going to be under fifty dollars sometime in the near future which obviously is in my view it's not going to happen yeah you're absolutely right i was a little bit skeptical about bitcoin in the beginning but i'm actually a believer in it now and i do own some bitcoin and the reason why on it is i think it's the...
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as more and more people like me who earn their income one hundred for cents in bitcoin to use it for day to day spending the price becomes more and more stable over time i don't think volatility is going to be a big problem meantime while people. don't see in the background is hundreds and hundreds of startups that have significant in the innovation that are being invested in by mainstream investors and that are creating thousands of jobs right now so bitcoin is a little island of growth and jobs and opportunity and innovation in a sea of stagnant economy like conditions across europe and across the world and across the u.s. i think bitcoin has tremendous potential because if you look behind the price of the currency which can swing quite wildly the technology itself is truly revolutionary in disruptive and it has all of this potential for so many innovations and financial services industry which frankly hasn't moved far beyond the one nine hundred fifty s. technologies like credit cards big coin is being used right now by thousands of people but is this type of currency really feasi
as more and more people like me who earn their income one hundred for cents in bitcoin to use it for day to day spending the price becomes more and more stable over time i don't think volatility is going to be a big problem meantime while people. don't see in the background is hundreds and hundreds of startups that have significant in the innovation that are being invested in by mainstream investors and that are creating thousands of jobs right now so bitcoin is a little island of growth and...
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so not only would you have not had any losses on your gold and silver with the bitcoin hedge but you would have gained an enormous amount in your portfolio with any kind of exposure to bitcoin whatsoever and going forward bitcoin will continue to outperform just about every market in two thousand and fourteen because for the reasons you stated there is a connection between snowden and bitcoin it's called encryption and it's a very very important for naaman on going forward yes and it's also you know i think twenty fourteen is going to be the year where we see this you know people are able to get freedom not granted to them by the powers that be but they're just going to take it because it allows you to take power with the unbanked to seventy five percent in subsaharan africa unbanked they don't need the permission. jamie diamond have a bank account now they could just have bitcoin they could decide to trade and commerce all over the world the same with the n.s.a. stories we're going to cover in the second at the snowden revelations but i want to say you know there will be fight back
so not only would you have not had any losses on your gold and silver with the bitcoin hedge but you would have gained an enormous amount in your portfolio with any kind of exposure to bitcoin whatsoever and going forward bitcoin will continue to outperform just about every market in two thousand and fourteen because for the reasons you stated there is a connection between snowden and bitcoin it's called encryption and it's a very very important for naaman on going forward yes and it's also you...
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Jan 10, 2014
01/14
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they are raising an arsenal of bitcoin miners to try to get the bitcoin for themselves. that is one of the things that concerns people in the community. it is supposed to be a decentralized currency, a democratic currency for the people and by the people. but if only the biggest millionaires can get it and poured it, that is a problem. >> and there is no regulation. it is purely market-driven. >> the whole network regulates it. there is no one central regulator, but all of the miners can control that regulation. >> i'm watching your hand movements and i just have to say, you do the shopping. thank you very much. matt miller from bloomberg news. next, more with kay koplovitz. find out how and easy to use 3-d printer can make art. ♪ >> my next guests are attempting to make 3-d printing tape knowledge he universally acceptable. they along with two friends have raised over $250,000 on kickstarter in order to fund their project. also with me, kay koplovitz. we were talking about 3-d printing and you were speaking and looking at what the gentleman had brought. i want you to
they are raising an arsenal of bitcoin miners to try to get the bitcoin for themselves. that is one of the things that concerns people in the community. it is supposed to be a decentralized currency, a democratic currency for the people and by the people. but if only the biggest millionaires can get it and poured it, that is a problem. >> and there is no regulation. it is purely market-driven. >> the whole network regulates it. there is no one central regulator, but all of the...
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bitcoin is both. it is both a monetary system, and a payment system and a lot more just getting started. cheryl: are you concerned about a bubble in bitcoin? in particular, this isn't your area of expertise, the volatility in bitcoin in particular in the last month of 2013. i mean one day where bitcoin lost $400 in value. that makes people nervous, skiddish. what do you think of that? >> i think it's a matter of people trying to figure out what the price of bitcoin should be. it is still a very young currency and there is not enough information. it will take time. i expect there to be more bubbles. all bubbles mean people don't know exactly what the price is. some people hink the price should be really high. some people feel that is time to get in. some people feel, wait, something happened and it shouldn't be this high yet. as we move forward with bitcoin. as bitcoin grows, there will be more stability. doesn't seem like it because of a high price, there is more stability in the bitcoin network and l
bitcoin is both. it is both a monetary system, and a payment system and a lot more just getting started. cheryl: are you concerned about a bubble in bitcoin? in particular, this isn't your area of expertise, the volatility in bitcoin in particular in the last month of 2013. i mean one day where bitcoin lost $400 in value. that makes people nervous, skiddish. what do you think of that? >> i think it's a matter of people trying to figure out what the price of bitcoin should be. it is still...
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Jan 13, 2014
01/14
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i earn my income and bitcoin. i travel with it and rent apartments all over the world. >> do you only buy things in bitcoin or do you convert your bitcoins into regular dollars? there are some places that probably only take cash or other bitcoin currency. 99% of my life using bitcoin for transactions. for a parking ticket, i probably have to take out my credit card. and youcreated a wallet want to make sure you get your password correctly. i will send some bitcoin over to this wallet. you take a picture of the key and it is really easy to send it. this happens basically anywhere in the world all the time. >> here is one of my questions when you are signing up which is so easy and great on the one hand, but on the other hand, when a bank -- you deposit your money in a bank, there is a guarantee you actually have the money. there is a credit check and some cases to sign up for various kinds of things. here, is theren any way to spend money you don't have? are there any safeguards? >> what i am going to talk about is
i earn my income and bitcoin. i travel with it and rent apartments all over the world. >> do you only buy things in bitcoin or do you convert your bitcoins into regular dollars? there are some places that probably only take cash or other bitcoin currency. 99% of my life using bitcoin for transactions. for a parking ticket, i probably have to take out my credit card. and youcreated a wallet want to make sure you get your password correctly. i will send some bitcoin over to this wallet. you...
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Jan 5, 2014
01/14
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more vendors are accepting bitcoin as payment, and capital firms have invested in bitcoin related start jums. patricia sabka explains. >> born in the wake of the financial crisis when confidence in the global financial crisis was shaingen could not be manipulated by a central authority. >> bitcoin is the first decentralized digital currency. >> when you use dollars, pesos and yen, the dollars pass through aan intermediary. the transaction is verified by a decentralized network of user computers that stops people from spending the same bitcoin twice, prevents fraud and keeps the supply growing at a steady rate. >> the fact that the bitcoin network is incredibly difficult to hack in the traditional sense, those are the things that all come from its decentralized nature. and those are the things that really make it appealing to people who are joining this revolution in money. >> the bitcoin user network is made up of miners, to verify transactions with the time stamp. think of a post mark on an envelope. the miner or group of miners who solve the problem first, are rewarded with a small tr
more vendors are accepting bitcoin as payment, and capital firms have invested in bitcoin related start jums. patricia sabka explains. >> born in the wake of the financial crisis when confidence in the global financial crisis was shaingen could not be manipulated by a central authority. >> bitcoin is the first decentralized digital currency. >> when you use dollars, pesos and yen, the dollars pass through aan intermediary. the transaction is verified by a decentralized network...
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Jan 9, 2014
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the interesting thing is, you used to be able to mine bitcoin at the beginning of the bitcoin era with just your laptop or just your videogame console. because the computations were not quite as complex. not as many people were trying to get into bitcoin. but now that so many more people are and people have poured millions of dollars into this equipment to do it, they had to make the computational problems become more and more complex, part of the genius of the code. and you have to get specialized equipment in order to do it. there are only 21 million bitcoin that will ever be mine, and that is between now and the year 20 -- 2140. is 9 million (and it is hard to get them. -- there are 9 million (and it is hard to get them. it becomes a race. you.do believe -- i don't believe you. i do know that some of these machines used in order to do these calculations, they are installed in iceland. >> that is a great story by the "new york times" about to your -- two weeks ago. there is this guy, i think from england somewhere, and he has bought millions of dollars worth of equipment for bitcoin.
the interesting thing is, you used to be able to mine bitcoin at the beginning of the bitcoin era with just your laptop or just your videogame console. because the computations were not quite as complex. not as many people were trying to get into bitcoin. but now that so many more people are and people have poured millions of dollars into this equipment to do it, they had to make the computational problems become more and more complex, part of the genius of the code. and you have to get...
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Jan 25, 2014
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where are bitcoins stored? jake ward explains. >> the thick about the money that you and i spend every day is it's regulated by a central bank which prints a certain amount to regulate the value and the flow of it through society. but with bitcoins, there is no central bank. it, instead uses a peer to peer network which moves the money directly between people. bitcoins are not printed in the way you can endlessly print money. every 10 minutes a computer does a complex piece of math that mines a bit coyne, creates it from nothing, using just math. and all across the system, laptops are constantly working up the new math and printing new bitcoins, creating them out of nothing. but there will only ever be 21 million bitcoins in total, a finite number, which helps regulate the value. when you want to move bitcoins in and out of the real world, you go do what are called ex changes and you can buy a dollar, yoeuros, yen and all kis of products with bitcoins directly, gun parts, flowers, software, gold, and in the end
where are bitcoins stored? jake ward explains. >> the thick about the money that you and i spend every day is it's regulated by a central bank which prints a certain amount to regulate the value and the flow of it through society. but with bitcoins, there is no central bank. it, instead uses a peer to peer network which moves the money directly between people. bitcoins are not printed in the way you can endlessly print money. every 10 minutes a computer does a complex piece of math that...
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Jan 26, 2014
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booti's restaurant has about $5,000 customers a month, and only had 10 bitcoin transactions. >> bitcoins is a new orleans story. we have never been pro government, never been pro regulation, never, you know, been pro a lot ofs these things. bitcoin eliminates the government and regulation. >> there's no gold or silver or monetary backing. >> you can go online and buy it with real money, euros or dollars, and you get a list that has your designation on it and this is how many you own. it acts like a currency in that you can buy and sell. >> some economists say it results in ta slow start and places steeped in tradition. others see great promise. >> we have a subset of our people, the silicon by you type people that will find bitcoin sexy and neat to use because it's new. >> in the antique district of the french quarter one shop is embracing the crypto currency. >> we can sell it for u.s. dollars or euros, or we can keep it and buy other stuff. >> since it's virtual it comes with volatility. one bit coin was worth about $200. today it's worth $1,000. it will have to settle down. if the val
booti's restaurant has about $5,000 customers a month, and only had 10 bitcoin transactions. >> bitcoins is a new orleans story. we have never been pro government, never been pro regulation, never, you know, been pro a lot ofs these things. bitcoin eliminates the government and regulation. >> there's no gold or silver or monetary backing. >> you can go online and buy it with real money, euros or dollars, and you get a list that has your designation on it and this is how many...
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Jan 28, 2014
01/14
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in this case it's digital currency bitcoins. they must become registered now, and they must comply with the same federal and state laws just like a company like western union. >> is there a precedent for a case like this or not? >> well, lots of precedents for money laundering. you know that's a decade-old crime and just because we see these entrepreneurs using this innovative model of bitcoins doesn't mean you can go and engage in illegal activity. that's the message the u.s. attorney's office sent today, if you are using bitcoins to trade illegal drugs or guns, you will be treated like old fashioned money laundering. very old fashioned message about the u.s. justice department regulating this decentralized and deregulated. >> what do we know about this suspicious activity report as part of the story? >> again, once an entity becomes a money launderers, they become foot soldiers for government. failing to report illegal or suspicious activity with respect to money laundering. so in addition to the conspiracy charges and some of
in this case it's digital currency bitcoins. they must become registered now, and they must comply with the same federal and state laws just like a company like western union. >> is there a precedent for a case like this or not? >> well, lots of precedents for money laundering. you know that's a decade-old crime and just because we see these entrepreneurs using this innovative model of bitcoins doesn't mean you can go and engage in illegal activity. that's the message the u.s....
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is the bitcoin foundation. any sense of who is behind that? is it all investors trying to get rich on bitcoin or perhaps libertarians who do not want to deal with a central bank? who is backing bitcoin? >> the interesting thing is it is a little bit of everything. you have people who are crypto anarchist types, silicon valley types, wall street types, some serious hard-core the rotarians and extremely -- libertarians and extremely talented technologists who brought it on line and modeled after the lennox foundation, the open source operating system, and said that we need something that maintains the integrity of the software protocols but also served as a clearinghouse for information about it. their lobbying effort, like the currency, is very decentralized. >> what really has regulators urge is how bitcoin has this anonymity to it. is there any way to change the technology or make it more accountable? the only thing that connects you with your bitcoin wallet is this 35-figure code. is there any way to make it
is the bitcoin foundation. any sense of who is behind that? is it all investors trying to get rich on bitcoin or perhaps libertarians who do not want to deal with a central bank? who is backing bitcoin? >> the interesting thing is it is a little bit of everything. you have people who are crypto anarchist types, silicon valley types, wall street types, some serious hard-core the rotarians and extremely -- libertarians and extremely talented technologists who brought it on line and modeled...
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congressional report warns a potential bitcoin threat to u.s. dollar a congressional report quietly released last month suggest that big claim could be a threat to u.s. monetary policy and makes the case for continued central banking control the report called bitcoin questions answers an analysis of legal issues was published by the congressional research service and they warned that it could be a case where bitcoin does threaten the viability of the u.s. dollar this is a report written by by congress for congress it does threaten the primacy of the u.s. dollar and the federal reserve bank just like p.d.p. file swapping destroyed the recording industry and they are i am the m p a a had to resort to suing their own customers or the case of aaron swartz counting a guy to be killed himself this will be their only recourse is to threaten jail long term prison for people who use bitcoin but the cat's out of the bag people are already on the crypto freight train and they're moving away from the dollar they're moving away from central banking they're m
congressional report warns a potential bitcoin threat to u.s. dollar a congressional report quietly released last month suggest that big claim could be a threat to u.s. monetary policy and makes the case for continued central banking control the report called bitcoin questions answers an analysis of legal issues was published by the congressional research service and they warned that it could be a case where bitcoin does threaten the viability of the u.s. dollar this is a report written by by...
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about bitcoin paul krugman recently came out and said bitcoin is evil all so if he hates it we know that's probably a good thing. and i start i saw the financial times said that bitcoins going to be under fifty dollars sometime in the near future which obviously is in my view it's not going to happen yeah you're absolutely right i was a little bit skeptical about bitcoin in the beginning but i'm actually a believer in it now and i do own some bitcoin and the reason why on it is i think it's a technological investment and it accomplishes what we tried to do to a certain extent with gold the difference of course is that gold is something that governments want to control and regulate whereas bitcoin is beyond government regulation and that's really one of its beauties and i think that's one of the reasons why an authoritarian like kruger you know lover of government hates bitcoin so the fact that you can't regulate it is one of its attributes except it is regulated it's not regulated by government it's regulated by the market it's regulated by everybody who studied it in analyzed and sees tha
about bitcoin paul krugman recently came out and said bitcoin is evil all so if he hates it we know that's probably a good thing. and i start i saw the financial times said that bitcoins going to be under fifty dollars sometime in the near future which obviously is in my view it's not going to happen yeah you're absolutely right i was a little bit skeptical about bitcoin in the beginning but i'm actually a believer in it now and i do own some bitcoin and the reason why on it is i think it's a...
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Jan 9, 2014
01/14
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more and more people getting into the solving these out rhythms to try to earn bitcoins. >> bitcoin mining is an essential part of the ecosystem. it is not something we participate indirectly -- in i directly. >> it is getting harder to mine them because more and more people are doing it. what if people lose the incentive? >> there is an efficient frontier where the appropriate amount of people in the world are mining. it is an arms race. it has reached that critical mass, the point where there is enough mining going on all over the world. i do not think it will reduce the amount of mining out there. today?e is bitcoin >> about $900 or so. >> where is he going to be this time next year? >> i do not want to make predictions like that. obviously, we think it will be very valuable in the future. >> interesting stuff. thank you for joining us today on "bloomberg west." yelp's business relies on consumer reviews. now a court wants the company to hand over the identities of several users. that story is next. ♪ >> welcome back. i am emily chang. a virginia court has ruled that yelp must hand ov
more and more people getting into the solving these out rhythms to try to earn bitcoins. >> bitcoin mining is an essential part of the ecosystem. it is not something we participate indirectly -- in i directly. >> it is getting harder to mine them because more and more people are doing it. what if people lose the incentive? >> there is an efficient frontier where the appropriate amount of people in the world are mining. it is an arms race. it has reached that critical mass, the...
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buying up get bitcoins with cash then at a marked up price selling these bitcoins to users kind of buying them off of schrans website and that's their connection there and because he was buying the bitcoins off of their website selling them on marked up prices and getting kind of some kind of deals with sram because he would buy the bitcoins and much larger stock and so the officials are saying twenty eleven to twenty thirteen making or exchanging over one million dollars worth of bitcoins and which silk road users again because bitcoin is the only currency that was allowed to be used on this website that's why now shut down to be able to buy drugs online so the question is where do to their cases go from here or is this expected to have a larger impact on the big coin community as a whole. well i mean and that's really one of the most important questions in this case because the bitcoin community and the bitcoin trend as it was only beginning to really take off and this is one of the questions whether or not these particular routes and what's going to happen to these two men sram in part
buying up get bitcoins with cash then at a marked up price selling these bitcoins to users kind of buying them off of schrans website and that's their connection there and because he was buying the bitcoins off of their website selling them on marked up prices and getting kind of some kind of deals with sram because he would buy the bitcoins and much larger stock and so the officials are saying twenty eleven to twenty thirteen making or exchanging over one million dollars worth of bitcoins and...
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Jan 26, 2014
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they are open to bitcoin. a year ago one bitcoin was worth $13. today it's worth $800. that fluk use has some asking if this is a financial gamble. people here are betting that it's not. >> bitcoins are more popular, and can be confusing - how are they regulated. where are they stored. we have this explanation. >> the thing about the money that you and i spend is regulated about a central bank which regulates the flow of it. with bitcoin there's no bank. it uses a peer to peer network, moving the money between people. they are not printed in the way you print money. every 10 minutes a computer does a complex piece of maths that mines bitcoin, creates it from nothing, just maths. all across the system laptops are working up the new math and printing new bitcoins, creating them out of nothing. there'll only ever be 21 million bitcoins, helping to regulate the value. when you want to move bitcoins in and out of the real world you can guy dollar, euros, yen, and you can go on to buy product with bit copies directly. you can buy gunparts, flower, soft water. when you buy som
they are open to bitcoin. a year ago one bitcoin was worth $13. today it's worth $800. that fluk use has some asking if this is a financial gamble. people here are betting that it's not. >> bitcoins are more popular, and can be confusing - how are they regulated. where are they stored. we have this explanation. >> the thing about the money that you and i spend is regulated about a central bank which regulates the flow of it. with bitcoin there's no bank. it uses a peer to peer...
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because bitcoin better. better because because because because because of all the fabulous things you do love anybody boo you're up to see the whizzer the wonderful wizard a bit going to toshi nakamoto created something that'll kill stupid central banks and all the people in europe like the e.c.b. in the back of i got a mark already girl. because. betterment now we mentioned at the top of the show that the f.b.i. holds all of these big coin wallets of the dread pirate roberts ross albrecht's and they're in the headline here f.b.i. admits it's not really about law enforcement anymore ignores lots of crimes to focus on creating fake terror plots so a couple years ago it was revealed that the f.b.i. noted in one of its counterterrorism training manuals that f.b.i. agents could quote bender suspend the law and impinge upon their freedoms others which seems kind of odd for a government agency who claimed his primary function was law enforcement you think that playing by the rules would be kind of important howeve
because bitcoin better. better because because because because because of all the fabulous things you do love anybody boo you're up to see the whizzer the wonderful wizard a bit going to toshi nakamoto created something that'll kill stupid central banks and all the people in europe like the e.c.b. in the back of i got a mark already girl. because. betterment now we mentioned at the top of the show that the f.b.i. holds all of these big coin wallets of the dread pirate roberts ross albrecht's...
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Jan 9, 2014
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the race to mine bitcoin. the value of the digital currencies has surged from virtually nothing to more than $1000 in the past year. there have been wild fluctuations of to more than $1000 and far below. the point has to be mined on computers with very complex algorithms. this comes as ali baba, the chinese e-commerce giant, has shoppinge point on it platform. the chinese government recently banned bitcoin deposit. asga will start accepting it a form of payment for some of its game. matt miller joins us now from new york. talk about the power it takes to actually mined these things. if the bitcoin community concerned about that? >> this is a big problem with , but something the creator expected to happen. i do not consider myself a bitcoin expert come up but i spent a lot of time on bitcoin forums. them to buy and sell things and go to me that's a lot. a lot of questions that people have is whether it makes financial sense to buy it now make moret, if you money doing that or make more money mining it. the prob
the race to mine bitcoin. the value of the digital currencies has surged from virtually nothing to more than $1000 in the past year. there have been wild fluctuations of to more than $1000 and far below. the point has to be mined on computers with very complex algorithms. this comes as ali baba, the chinese e-commerce giant, has shoppinge point on it platform. the chinese government recently banned bitcoin deposit. asga will start accepting it a form of payment for some of its game. matt miller...
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Jan 29, 2014
01/14
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putting that aside, i would say in the early days of bitcoin there was this thing called bitcoin magical thinking which is this concept that people have that somehow you could do things with bitcoin you cannot do with cash because bitcoin is on regulated or that the obligations did not apply. that was not true then, it is not true now, and it will not be true in the future. with a high profile takedowns, you would have to be a really dumb criminal to try to use bitcoin as a payment method. >> if bitcoin is regulated at some point, will it still be attractive? >> sure, i think it would be more attractive. the more we get regulatory 30 around this issue. i commend new york for having hearings to discuss this. this is an important step. understanding how the rules work in new york and in the federal level. taken aral level has strong lead. understanding how those rules apply, how they apply to this new industry, how businesses can be built in a compliant way. that will cause consumer to trust bitcoin and the companies built around it. is chinag a deal shutting bitcoin out? >> i think it is
putting that aside, i would say in the early days of bitcoin there was this thing called bitcoin magical thinking which is this concept that people have that somehow you could do things with bitcoin you cannot do with cash because bitcoin is on regulated or that the obligations did not apply. that was not true then, it is not true now, and it will not be true in the future. with a high profile takedowns, you would have to be a really dumb criminal to try to use bitcoin as a payment method....
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and so if you want you can use bitcoin to deliver extreme fairness and transparency and so far there doesn't seem to be any indication that law enforcement organizations have any trouble tracking town transactions on pit coins using old fashioned police activities i think in fact bitcoin is far more transparent than our current financial system if you ask for example economists they have no idea what the full size of the hedge fund market is or what the full size of leveraged debt is because no one knows a lot of this happens on closed markets where there's no accountability while the price of bitcoin fluctuates day to day right now on one bitcoin cost seven hundred seventy six dollars how can this currency become accessible to someone who isn't willing to spend a small fortune on an unstable investment. so i think it's important to recognize that. one bitcoin is not necessarily the unit you buy just like for example at the moment it's probably about forty five thousand dollars to buy a bar of gold no one goes out and buys a whole bar of gold when they want to invest in gold what the
and so if you want you can use bitcoin to deliver extreme fairness and transparency and so far there doesn't seem to be any indication that law enforcement organizations have any trouble tracking town transactions on pit coins using old fashioned police activities i think in fact bitcoin is far more transparent than our current financial system if you ask for example economists they have no idea what the full size of the hedge fund market is or what the full size of leveraged debt is because no...
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treasury secretary jack lew recently said that bitcoin gives individuals a place to hide and allow for the funding of terrorist activities what's your response especially in light of the two new york executives who were just charged with conspiracy to commit many money laundering excuse me by selling over one million dollars and declines to the black market websites all grown well because it actually offers a scale of anonymity to full disclosure of identity on bitcoin it's actually harder to do strong anonymity whereas it's easier to do strong transparency one of the things we've seen in that they quite network has the ability for charities and her public responsibility organizations or publicly accountable organizations to operate an open set of accounts and open books where everyone can see exactly what's. so if you want you can use bitcoin to deliver extreme fairness and transparency and so far there doesn't seem to be any indication that law enforcement organizations have any trouble tracking town transactions on paid coin using old fashioned police activities i think in fact bitc
treasury secretary jack lew recently said that bitcoin gives individuals a place to hide and allow for the funding of terrorist activities what's your response especially in light of the two new york executives who were just charged with conspiracy to commit many money laundering excuse me by selling over one million dollars and declines to the black market websites all grown well because it actually offers a scale of anonymity to full disclosure of identity on bitcoin it's actually harder to...
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lost faith in the value of bitcoin so you know they hold dread pirate roberts while out of bitcoin were something like one hundred twenty five million pounds in total between the two but they say that apparently the millions of dollars in between seized by the f.b.i. from ross albrecht and the first silk road currently stored in the set of online while it's appears to be on the move a source in the us justice department said that authorities have access to the old brick bit coin cache and may be selling it off for less volatile currencies in the next few weeks this is exactly how they run fed policy is that they don't actually know they're not going to sell it or they do sell it i'm a buyer i'll be willing to give them eighty million dollars today for their big coin cash f.b.i. we've got the money we're going to cut that check today please contact me we're a buyer we'll take your bit going but you won't be stung a bit going for the same reason you won't be selling any bonds over there at the federal reserve bank you talk about tapering you talk about having a policy but you don't actual
lost faith in the value of bitcoin so you know they hold dread pirate roberts while out of bitcoin were something like one hundred twenty five million pounds in total between the two but they say that apparently the millions of dollars in between seized by the f.b.i. from ross albrecht and the first silk road currently stored in the set of online while it's appears to be on the move a source in the us justice department said that authorities have access to the old brick bit coin cache and may...
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bitcoins. >> happy birthday. >> not bitcoins. i like xlf, they will continue to lead. >> bx on that vein. >> see you monday for more fast. options action begins after this break. have a great weekend. ...and the little room above the strip mall off roble avenue. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had the power to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did. in a little dorm room -- 2713. ♪ this magic moment ♪ ♪ this magic moment so ally bank really has no hthat's right, no hidden fees.s? it's just that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um... well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally. i needed a new laptop for my pre-med classes, something that runs office and has a keyboard. but i wanted a tablet for me, for stuff like twitter and xbox, so my do
bitcoins. >> happy birthday. >> not bitcoins. i like xlf, they will continue to lead. >> bx on that vein. >> see you monday for more fast. options action begins after this break. have a great weekend. ...and the little room above the strip mall off roble avenue. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had the power to do more. dell is honored to be part of some of the world's great stories. that began much...
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dollar not bitcoin bitcoin is a small player as a small percentage of its transactions are illegal that's true but the majority are for legal goods whereas the u.s. dollar is the primary player in international trade in illicit items but could big . and eventually become a major threat to the dollar. well it is a threat but it's something that's not going to happen in the next day or the next year it's going to take some time to develop and basically the central bank the federal reserve and central banks around the world can fight off bitcoin by providing a more stable dollar a more stable euro they're in the business right now of making the world uncertain as to the future of money and so that's the only reason why bitcoin was has become so prominent today but it's come probably but is it not a fad that is going to vanish eventually well that's you know that's for the history books we don't know but i think the chances are is that bitcoin has some advantages over traditional money to make it look like it's going to have a future or if not going then some form of electronic transmittable
dollar not bitcoin bitcoin is a small player as a small percentage of its transactions are illegal that's true but the majority are for legal goods whereas the u.s. dollar is the primary player in international trade in illicit items but could big . and eventually become a major threat to the dollar. well it is a threat but it's something that's not going to happen in the next day or the next year it's going to take some time to develop and basically the central bank the federal reserve and...
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i think bitcoin. has tremendous potential because if you look behind the price of the currency which can swing quite wildly the technology itself is truly revolutionary and disruptive and it has all of this potential for so many innovations in the financial services industry which frankly hasn't moved far beyond the one nine hundred fifty s. technologies like credit cards. is being used right now by thousands of people but is this type of currency really feasible unsustainable for the entire planet to use . i think that's an easy question to answer because it is already working globally because in isn't one hundred ninety fourth national currency it's the first transnational currency and sitting here today i can pull out my smartphone and pay my subcontractor in bangalore india and they will receive payment in a few seconds i'll pay forty cents to send it they will have to pay nothing to receive it will be in their smartphone pickling accounts instantly and kind of power can be global trade it can rev
i think bitcoin. has tremendous potential because if you look behind the price of the currency which can swing quite wildly the technology itself is truly revolutionary and disruptive and it has all of this potential for so many innovations in the financial services industry which frankly hasn't moved far beyond the one nine hundred fifty s. technologies like credit cards. is being used right now by thousands of people but is this type of currency really feasible unsustainable for the entire...
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liz: bitcoin once again making headlines, this time following the arrest of the ceo of bitcoin exchange saying he was laundering money for drugs and all kinds of stuff. could this be the beginning of the end for the digital curren currency, or is it a temporary setback that happens with all currency? last week in davos i asked citigroup ceo what he thinks of bitcoin. here's what he said. >> candidly i am not sure what bitcoin is yet. is it a currency, payment mechanism. liz: i don't blame him. take a look at all the cool things you can now buy with bitcoin. the lamborghini, a trump apartment, and even a trip to space. so is bitcoin really real or is there more trouble ahead for the digital currency some people have trouble, me, wrapping their eyes around? joining me now, larry white. a professor over there. and coins that are founder and ceo and predicted right here on this program months and months ago at coin would hit 1000. it has come around $900 at the moment. 962 at last look. >> it depends on the exchange. most are looking at 800 levels, but definitely has gone up quite a bit. li
liz: bitcoin once again making headlines, this time following the arrest of the ceo of bitcoin exchange saying he was laundering money for drugs and all kinds of stuff. could this be the beginning of the end for the digital curren currency, or is it a temporary setback that happens with all currency? last week in davos i asked citigroup ceo what he thinks of bitcoin. here's what he said. >> candidly i am not sure what bitcoin is yet. is it a currency, payment mechanism. liz: i don't blame...